Editing a Risk
Open a Risk
Click on any risk from the Risk Console to open its Risk Details screen.View the Risk Details Card
The Risk Details Card will appear on the right of the screen, showing current scores and fields.Edit Scores
Click the dropdown arrows beside Likelihood or Impact to manually adjust your scores.
Using Quantitative Measures in Risk Scoring
You can add financial or probability-based metrics to make your risk ratings more precise:
Likelihood can be linked to a specific probability (e.g., 33% for "Possible").
Impact can be expressed as a dollar value, such as:
% of firm capital
Annual revenue
Total assets
Strategic reserves
Example:
If “Possible” = 33% likelihood and “Extreme” = $15M impact, then:
Inherent Risk = 0.33 × $15M = $4.95M expected loss
Residual Risk Example
Even after implementing controls:
Residual Likelihood may stay the same
Residual Impact may be reduced
Example:
New residual impact = Level 4 “Major” = $5M
Residual Risk = 0.33 × $5M = $1.65M
These values help visualize how mitigation measures reduce overall exposure.
Applies to: Standard Users, Admin Users
Keywords: edit risk, risk scoring, residual risk, inherent risk, likelihood, impact, financial metrics, dropdown scoring